We will be in Hong Kong for 8 nights from May 27 and are looking for comfortable and clean accommodation in a convenient spot. We are in our 60's and intend to do many trips to outlaying islands, possibly into China and maybe Macau. Any hints, tips and recommendations would be fantastic.

Thanks but would still love a bit more info - haven't been there since 1977!! Islands to visit from Hong Kong, thing s not to miss etc....please
HK outlying islands
There are hotels or guesthouses / hoilday flats to rent on many of them as well.
A visit to Macau would be good as well. Do an overnight trip and get a package.

If you haven't been to China before I'd recommend an overnight trip by train to Guangzhou or even by ferry to Zhuhai. Give Shenzhen a miss. Macau is definitely worth 24 hours or longer. The islands like Cheung Chau (??) are fun for a day - good seafood. If you go to the Big Buddha on Lantau continue on by bus to Tai-O - very interesting fishing village on stilts (check the bus departure times as soon as you arrive at Buddha, because they only go once an hour.

My wife and I are in our 60s and 1st went to HK a long time ago, too. Here are some resources that may be helpful to you:
Budget travel basics for Hong Kong, with 30+ guesthouses and GH resources and the only travel guide with a photo of the stairs in the Chungking Mansions - you're probably going a little more upscale, though!
Asia 2005, 2006/2007
Asia photos 2005, 2006-2007 – some HK and other guesthouse photos
CK

I have recently bought a travel guide book, the Rough Guide to Hong Kong and Macau. I was very impressed by the amount of detail and the excellent suggestions for excursions, places to stay and eat etc. Definitely worth the money if you are going to be there 8 days. My copy was published in the UK. If you can't find it in a bookstore, try buying it online with Amazon.
Places I'd recommend to visit are Lamma Island (have a seafood lunch, but go on a week day to avoid the crowds), and Tai O village on Lantau Island. You can also do a do-it-yourself circular day tour of the new territories from Kowloon by public transport, incorporating a train, a bus, the light rail line and a ferry. Use the detailed public transport information from the Hong Kong Tourist Board for timetables/routes, which you can pick up once you get there. This wil take you out of the usual tourist haunts so you see something of the lives of ordinary people.
For accommodation, I'd go for Hong Kong Island, rather than Kooloon. The YMCA/YWCA run hotels are good value and well located to transport. For budget prices, try some of the hostels in Causeway Bay - many have double rooms with private bath at fair prices.

I think to decide for accomodation, you should provide a budget that you're comfortable spending.